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IFRS Foundation Trustees and Due Process Oversight Committee hold June 2019 meeting

  • IFRS Trustees meeting (blue) Image

01 Aug 2019

The IFRS Foundation Trustees and the Due Process Oversight Committee (DPOC) held meetings in Munich on 24-26 June 2019.

Meeting ac­tiv­i­ties included the following:

Trustees’ meeting

  • Executive session:
    • Report of the Executive Director — The Trustees received a report from the Executive Director Lee White on ac­tiv­i­ties since the last meeting.
    • Strategy review — The Trustees discussed key challenges for the Foundation, the support for consistent application of IFRS Standards, timeliness, and sustainability reporting.
    • Gov­er­nance issues — The Trustees viewed a presentation from the IFRS Foundation Advisory Council and discussed its role in providing strategic advice.
    • Op­er­a­tions analysis — The Trustees received a presentation on managing the Foundation’s brand.
    • Future meetings — Trustees confirmed that their next meetings would be in Brussels in February 2020, Seoul in June 2020, and New Delhi in October 2020.
    • Committee reports — The Trustees discussed reports from the Business Process and Technology Committee, Audit and Finance Committee, the Human Capital Committee, the Nom­i­nat­ing Committee, and the DPOC. (A report of the DPOC meeting is attached to the meeting summary.)
  • IASB Chairman’s report — The Chair of the IASB provided the Trustees with a general update on the IASB’s technical ac­tiv­i­ties, es­pe­cially on the proposed amendments to IFRS 17, the IBOR reform, simplification of accounting for goodwill, and management commentary.
  • Meetings in Munich — The Trustees co-hosted a stakeholder event with the German accounting standard setter (the DRSC), which included a keynote speech by Dr Nicolas Peter, the Chief Financial Officer of BMW AG.

The full report on the IFRS Foun­da­tion trustees’ and DPOC meeting is available on the IASB’s website.

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